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G. Petitioner’s Income Tax Returns
Petitioner signed his 1994 Federal income tax return on
April 15, 1996, and filed it on or after that date. He
timely filed his 1995 return.
Petitioner reported gross receipts from his tax preparation
business of $32,400 for 1994 and $38,658 for 1995. Petitioner
deducted car and truck expenses in the amount of his monthly
payments on the Mazda truck. Petitioner deducted the following
amounts for business expenses for 1994 and 1995:
1994 1995
Advertising $ 820 $ 720
Car and Truck 3,879 --
expenses
Commissions and 7,980 8,950
fees
Insurance 1,750 1,800
Interest 1,470 1,578
Office expense –- 1,821
Rent 3,350 3,360
Repairs and 339 350
maintenance
Supplies 2,875 2,718
Taxes and licenses 285 245
Utilities 6,487 6,987
Wages 9,500 9,879
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